9911796707
TMI Blog2024 (8) TMI 929X X X X Extracts X X X X X X X X Extracts X X X X ..... from which the available fund shows that cheques have been issued out of the funds available with the donor. Similarly, the ICICI Bank Account also shows that assessee has continuous balance available for last several months. As such the gift from a brother is not chargeable to tax in the hands of the assessee being relative. Assessee has proved identity, creditworthiness and genuineness of the gift received as well as relationship with Donor. Therefore, the amount received by the assessee clearly shows that above amount is not the income of the assessee. Despite above information being available with the lower authorities, an addition is made to the total income of the assessee. We direct the AO to delete the addition in the hands of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7.2022 by the Central Procession Centre ( the ld. Assessing Officer ) was dismissed. 2. The assessee aggrieved and has preferred this appeal raising following grounds: i. The ld. CPC erred in adding the amount of Rs. 20,00,000/- to the total income of the assessee where the amount was received by the assessee from his real brother (being an NRI) as a gift out of natural love and affection. ii. The ld. CPC erred in adding the amount of Rs. 40,504/- to the total income of the assessee which is already considered in the respective head of income from other sources and considered for the computation of total income. iii. The ld. CIT(A) erred in confirming interest under section 234B and 234C of the Income Tax Act 1961. iv. The appellant craves ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss of the above gift, therefore, in the absence of creditworthiness of the donor and genuineness the ld. AO has correctly added the income. With respect to the double addition of Rs. 40,500/-, he directed the AO to verify and allow the deduction. Accordingly, the appeal of the assessee was dismissed. 7. Aggrieved with the same, assessee is in appeal before us. The assessee has submitted a paper book containing 55 pages wherein assessee has given copies of 3 cheques issued by the donor, passport of the donor and gift deed. The assessee submitted that Mr. Abul Khair Shaikh, brother of the assessee, is a non-resident Indian carrying on the business of laundry services in Dubai for last more than 25 years and has given a gift of Rs. 20,00,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lly considered the rival contentions and perused the orders of ld. lower authorities. We find that assessee individual filed his return of income on 01.01.2022 declaring total income of Rs. 19,88,600/-. In the computation of income, assessee has already disclosed income from other sources being interest income of Rs. 40,500/- which has been once again added by the ld. AO while processing the return. Therefore, same is double addition. The ld. CIT(A) directed the AO to verify and allow the claim of the assessee. We find that there is no need of verification when the relevant document submitted by the assessee clearly shows that there is a double addition of the income. Accordingly, we direct the ld. assessing officer to delete the addition o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e available fund shows that cheques have been issued out of the funds available with the donor. Similarly, the ICICI Bank Account also shows that assessee has continuous balance available for last several months. 14. As such the gift from a brother is not chargeable to tax in the hands of the assessee being relative. Assessee has proved identity, creditworthiness and genuineness of the gift received as well as relationship with Donor. 15. Therefore, the amount of Rs. 20,00,000/- received by the assessee clearly shows that above amount is not the income of the assessee. Despite above information being available with the lower authorities, an addition is made to the total income of the assessee. In view of the above facts, we direct the ld. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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